Dubai's RERA Launches ‘Tayseer' Initiative to Ease Service Fee Payments
The initiative offers flexible payment plans with a minimum six-month term, in coordination with jointly owned property (JOP) management companies. This move is designed to alleviate financial burdens on unit owners while promoting financial stability across the real estate sector.
Aligned with the 'Year of the Community 2025' initiative, 'Tayseer' underscores Dubai's commitment to strengthening community ties and fostering cooperation. By enabling structured repayment plans, the initiative enhances social and economic stability, ensuring a more sustainable real estate environment.
The launch follows discussions between RERA and JOP management firms, resulting in 19 companies joining the initiative. Registration is open for two months, during which participating firms have committed not to take enforcement actions against property owners adhering to the plan. Mohammed Ali Al Badwawi, Acting CEO of RERA
Mohammed Ali Al Badwawi, Acting CEO of RERA, emphasized the initiative's role in enhancing market trust and stability, stating: 'The 'Tayseer' initiative aligns with our vision of delivering proactive, customer-centric services that balance economic and social priorities.'
By reducing service fee disputes, streamlining payment processes, and fostering collaboration, the initiative contributes to Dubai's Real Estate Sector Strategy 2033. It further strengthens Dubai's global competitiveness, promotes sustainable development, and reinforces trust and transparency in the real estate market.
RERA urges property owners to coordinate with their management companies and encourages more firms to participate. The list of JOP management companies is available on the Dubai Land Department's official website.
News Source: Cicero & Bernay
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